IDTechEx Release New Global Battery Market Report for Construction, Agriculture & Mining Machines

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Apr 30, 2024, 06:49 ET

BOSTON, April 30, 2024 /PRNewswire/ -- IDTechEx, a trusted provider of independent market intelligence, announces the availability of a new market report, "Battery Markets in Construction, Agriculture & Mining Machines 2024-2034". The report forecasts battery demand for off-highway industries will be worth nearly US$8 billion in 2034.

Electric CAM Equipment Battery Sizes. Source: IDTechEx (PRNewsfoto/IDTechEx)

The growing electrification seen in the construction, agriculture, and mining (CAM) industries opens up a new market opportunity for cell manufacturers and battery pack makers. In this new battery market report, IDTechEx finds that, in total, battery demand across all CAM industries is expected to reach 53.6 GWh in 2034. This equates to an industry valued at US$7.8 billion in 2034, representing a 10-year CAGR of 27.1%.

This independent research report provides critical market intelligence on battery markets for construction, agriculture, and mining vehicles. A database of over 200 electric machines from the CAM sectors is examined, combined with nearly 200 products from turnkey battery pack suppliers. The individual needs of 15 different machine types are considered, along with the merits of ten battery technologies, including; NMC, LFP, LTO, sodium-ion, solid-state batteries, silicon anode batteries, lithium-metal batteries, and more. These combine to give recommendations for the best battery fit for each of the machines across construction, agriculture and mining industries. The report concludes with forecasts for the growth of these technologies within the CAM market, evaluating the market size and distribution over the next 10 years.

"Battery Markets in Construction, Agriculture & Mining Machines 2024-2034" covers the following key aspects:

• An overview of CAM EVs

• Vehicle trends and performance analysis

• Benchmarking of off-the-shelf battery products and suppliers' core technologies

• An overview of Li-ion and beyond Li-ion batteries, and their applicability to CAM

• Granular 10-year forecasts for battery demand and revenue

The main contents of this report include:

• Executive summary and conclusions

• Introduction to CAM vehicle electrification
- Construction EVs
- Agriculture EVs
- Mining EVs

• Vehicle performance requirements
- Analysis of battery sizing, power, cycle life, cost, and more

• Turnkey battery suppliers
- Product benchmarking and trends
- Supplier case studies
- Mergers, acquisitions, and spinouts

• Future battery technologies
- Li-ion, including NMC and LFP
- Lithium titanates and niobates
- Silicon anode
- Li-metal
- Solid-state
- Li-sulphur
- Na-ion
- Al-ion
- Zn-based batteries

• Application of battery technologies to CAM vehicles

• 10-year market forecasts
- Electric vehicle sales (units)
- Battery demand (GWh)
- Revenue (US$)

For more information on this report, including downloadable sample pages, please visit www.IDTechEx.com/CAMBatteries.

IDTechEx reports provide a detailed appraisal of a technology and its applications, based on primary and secondary research conducted by technical analysts, helping you understand the full picture. These high quality, unbiased studies are researched at a global level.

For the full portfolio of battery and electric vehicle related research available from IDTechEx, please visit www.IDTechEx.com.

About IDTechEx

IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com.

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Lucy Rogers
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SOURCE IDTechEx